Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
The government is also lifting the ban on fracking - which involves extracting gas and oil from shale rock
Anyone think this is a positive for Chariot since it shows a slight u turn on UK Gov towards fossil fuels for the foreseeable future… perhaps investment will start flowing back into new O and G to stem the Russian tide.
Expecting another interview with Katie and Duncan Wallace or AP and an eventful AGM.
Hopefully someone can pepper them on the obvious GSA and possible TO target : )
Chariot Limited has signed a pipeline tie-in agreement securing access to the major Maghreb Europe Gas Pipeline in Morocco.
The GME pipeline, owned and operated by ONHYM, runs from eastern Morocco through to Tangiers in the north and subsequently across to Spain.
ONHYM is Chariot’s partner on the Lixus licence some 40km off the coast of Morocco and that contains the Anchois gas field.
This agreement will enable gas produced from Anchois to be transported via the GME to different potential off-takers.
Pierre Raillard, head of gas at Chariot, said: This moves Chariot a step closer towards delivering the first gas from the Anchois gas field to potential customers using the GME pipeline.
“We are well placed to bring gas online as quickly as possible."
BBB, I think I’d rather them announce nice news like this one step at a time than have it all in one RNS piece and then a massive sell off.
The share will re-rate to over £1 (IMO when we are very near to first gas). This piece of news adds credibility to larger investors looking to get in still early, ahead of first gas.
As AP mentioned yesterday, we will have a flurry of news on Anchois and I expect more will come in the coming weeks. Each will be a step closer to getting positive cash flow and the company will turn into a monster.
I’ll take it! Wouldn't it be sweet to get another RNS in a few days with off-taker news or GSA signed now we have the pipeline agreed.
It’s all coming together!
Particularly like the part that mentions we now have access to the off takers in Morocco AND across SPAIN!
“….and combined with its proximity to the international GME pipeline, we are well placed to bring gas online as quickly as possible."
Nige, you know it’s not a great sign when the boss decides to do a podcast with probably a dozen listeners (us) instead of releasing news via RNS (the proper way)
Burwell land lease situation - fail - SK entirely blamed the national grid
Avonmouth/Tring Peaker financial close - fail yet weeks before the anticipated RNS he was chirping away on the radio that everything was pretty much a done deal and they just needed to do a little more DD due to the size of the cheques.
Altana partnership - promised in podcast and MOU got us excited…. Then silence after the 6 month deadline agreed
Investment for offtake on Nickel from Chinese/Korean friends with deep pockets who like to do a deal when they have had too much spirit - fail and blamed covid flights to China for the delay, then nothing.
Mining license from PNG - the only thing we investors hold out hope for. Bare in mind he’s been saying the license is at the very very final stage since this time last year….
There’s a theme! How do they get away with it
Padfoot, I agree.
I can’t imagine they will be unwilling to share any information on Anchois at the AGM - otherwise it would be a fairly muted and pointless exercise to only discuss the green hydrogen project.
I suspect a lot of questions will be aimed at the Anchois project and ‘where are we with the gas sales agreements/offtakers/have there been any offers of a buyout’ in which case, the company will need to, as Jimmy states, release something so that they can cover off those sorts of questions, which will likely be covered off.
As we await more meat on the bone in terms of Anchois news, reminder that the gas already found remains there (and probably buckets more of it in the Rissana area that has yet to be drilled) I take some comfort from this.
I believe if there is news on Anchois it would be released separately.
They tend to keep the green hydrogen and gas news completely separate which is understandable as they are very different investment sectors
Joe, the problem is not with the company’s main asset (assuming there is nickel and cobalt in the ground at the quantities mentioned). The problem lies with the management team and the way the company has somehow managed to promise so much (every few months) for the past 2/3 years and delivered absolutely nothing which is of value to shareholders other than waste money and pay salaries. You have to ask yourself how much patience you have and how long term you view your investment here. Will the company deliver soon? Well based on its history, you’d have to say no. Could they? Absolutely. Do I think they will? No. I don’t trust them and I’m letting my last shares roll incase they pull a rabbit out of the hat. As a percentage I’d say I have about 5% confidence they will deliver something this year. A deal may be forced in which it finds a buyer willing to take the mining project on, but I doubt that will have much to do with SK or JP. They will stay in their positions until they can no longer lie or hide behind false, empty promises - all at the expense of private investors. It’s strange how a company with quite a good sector/niche can get things so wrong. Hopefully you aren’t down too much, but for your own sake, I wouldn’t be expecting fireworks this November or check daily for the long awaited RNS as I used to. Sentiment is right at the bottom, so the only way is up, unless they manage to mess up what investor confidence they have left. ATB, Sniper
Hi Jimmy
I note that you still expect something from the company before the AGM - be good if it happens but we are running out of days. I wonder are they trying to time the market - waiting for PM to be installed or something else?
Thanks, Sniper
For the MMs. Feel sorry for those who were shaken out again by the traders swinging this share. One day, the range will break away from 18-20p and won’t likely come back. Well done if you managed to get a cheap top up in.
News expected any day. Would the company really invite IIs to attend the AGM to cover off old ground? Surely they have something to tell us regarding negotiations with Off-takers, bigger Oilers or perhaps the Moroccan government themselves.
Hi Jimmy
When you say obviously chariot are holding back news ahead of the AGM; do you mean they are likely to drop news immediately prior to, or after the AGM? We know they cannot release price sensitive information during the AGM other than by way of RNS.
Thanks, Sniper
Hi Builder
Thanks for that. Useful info. What I still don’t understand is how we trade from 20.5p plus to then really quite small sells about 6% lower in the space of 10 minutes. All trades under a tenner and all seem to be aimed at keeping the bid down. I know the sells and buys are often not what they say they are, but it just seems like to maintain a fair and orderly market, the MMs should not hide/delay trades. Ofcourse none of this makes a difference to my investment in Chariot, but seems to stall momentum when the trades start going through at a significantly lower price for what would seem no valid reason. Perhaps the MMs whacked the spread up because of illiquidity. Thanks for your reply
Can anyone explain why the buys/sells are often hidden/delayed?
Here is a prime example of manipulation to panic selling…. We’ve had about £200k in the last few days of buying above 20p and yet Google has the SP back down at 19.5p on about 2/3 trades equating to £100?
Probably we will see a sell show up after the market closes or possibly even tomorrow it will appear, but does anyone know why certain trades down show up for days or not at all?
It seems really suspect to drop the price 5% of very little? Anyone?